Advance Endorsement

For the Importer

There are instances when goods arrive at the port of destination, and the buyer is unable to take possession as the transport documents are made to the order of RHB Bank or consigned to RHB Bank. In these instances, the buyer approaches the bank to endorse the transport documents to the buyer's order to enable the buyer to take possession of the goods. As the endorsement is done prior to payment of the consignment, it is termed as Advance Endorsement.

Benefits

• Enables the buyer to take delivery of goods immediately
• Eliminates storage, demurrage and handling charges
• Improves cash flow by allowing deferment of payment until the supplier's documents have been presented
• Avoids possible losses due to deteriorating condition of the goods